Platina Equity exits Ekium

Platina first acquired two thirds of Ekium through an MBO in 2007, with the balance held by management.

SNEF will become Ekium's new majority owner. The merger should create an entity representing around €1bn in revenues. Founded in 1954 and based in Marseille, SNEF designs and manufactures electrical engineering products, used in air treatment and the maintenance of telecoms networks. Prior to the merger, the company recorded €900m in revenues.

During Platina's holding period, Ekium's turnover grew from €25m to €70m and its workforce expanded from 250 to 800. Over the years, the GP backed numerous bolt-on acquisitions, including that of GLI, SBE and D-Ways in 2010.

Previous funding
In 2007, Platina backed the MBO of Ekium (then known as Cira Concept) in a deal valuing the business at €13m, with management retaining the balance. The transaction was leveraged with a €7m single-tranche debt facility provided by Societe Generale.

In July 2010, Platina partially financed Ekium's acquisition of GLI, SBE and D Ways for an undisclosed amount. Ekium acquired the companies from Groupe Mayor.

Company
Established in 1990, Ekium specialises in automatic control systems and production control systems engineering. The company provides consulting, engineering, installation and project management services. It services the chemicals, energy, heavy industry, infrastructure, nuclear, oil and gas, pharmaceutical and transportation sectors in France and abroad. Customers include water treatment and waste management company Suez Environnement and aerospace company Airbus.

Based in Bron, near Lyon, Ekium was formerly known as Cira Concept and changed its name in January 2008.

Advisers
Vendor – Transaction R, Pierpaolo Carpinelli, Philippe de Montreynaud (corporate finance); McDermott Will & Emery, Diana Hund, Grégoire Andrieux, Herschel Guez (legal).

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